Assumptions Balance Sheet Sales increase Tax rate 20.00% 35.00% Assets Current assets Cash 24,280.00 $37,070.00 83,400.00 $ 144,750.00 Income Statement Accounts receivable 2015 891,600.00 693,600.00 18,240.00 179,760.00 13,400.00 166,360.00 58,226.00 108,134.00 Inventory Total Sales Costs Other expenses EBIT Interest expense Taxable income Taxes (35%) Net income Fixed assets Net plant and equipment $ 396,500.00 Total assets $541,250.00 Liabilities and owners' equity Current liabilities Dividends Add. to retained earnings 35,684.00 72,450.00 Accounts payable $ 65,200.00 $ 16,320.00 $81,520.00 Notes payable Total Long-term debt Total Liabilities Owners' equity s155,000.00 $236,520.00 Retained earnings Total Common stock and paid-in su $ 130,000.00 $ 174,730.00 $304,730.00 Total liabilities and owners' eq 541,250.00 Utilizing the attached financial statements and the below assumptions, create a pro forma income statement and balance sheet. What is the EFN for the pro forma balance sheet? Assumptions I. Sales will grow by 20% 2. Interest Expense, tax rate, and dividend payout ratio remain constant 3. Costs, other expenses, current assets, fixed assets, and AP increase spontaneously with sales 4. The firm is operating at full capacity and no new debt or equity has been issued